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 Market Watch February 2004

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Market Watch
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Second Best February Ever

TORONTO -- Thursday, March 4, 2004

TREB Members recorded 6,060 sales in February, up two per cent from February of 2003 and the second best total for the month ever recorded.

"A number of factors that contributed to this result," noted TREB President Cynthia Lai. "The leap-year gave us an extra sales day in 2004 and last year's weather was even worse than in this February. Nevertheless, any month with over 6,000 sales is indicative of a very healthy market."

Prices trended higher in February, with the GTA-wide average coming in at $310,190, up five per cent over the January figure of $295,989, and up seven per cent from the $289,954 recorded during February of 2003. "This increase occurred across all four of TREB's four geographic areas," The President noted, "and was accompanied by a two per cent increase in the median price, which went to $265,000 from January's $259,978. However, it should be noted that not all districts or neighborhoods were equally active. Prices in the East end of Toronto, for example, rose one per cent over 2003."

Breaking down the total, 2,334 sales were reported in TREB's 28 West districts and averaged $287,714; 988 sales were reported in the 14 Central districts and averaged $419,686; 1,227 sales were reported in the 23 North districts and averaged $338,844; and 1,511 sales were reported in TREB's 21 East districts and averaged $250,045.

Neighbourhood Corner
Unionville

Most of the ten sales in Unionville (West side of N-11) this year have been detached homes, and most of these two-stories. Their average price

is $520,189, up a full 31 per cent over the same two-month period last year. The median price was $482,900, and the most expensive sale $799,000.


Dwelling Type
Sales
%
Median
Detached
2,908
98
$326,900
Semi Detached
802
99
$254,500
Condo Townhouse
591
98
$209,000
Condo Apt.
1,204
97
$187,000
Link
178
103
$236,250
Attached/Row/Twnhouse
342
98
$248,500
Co-op Apt.
25
97
$248,500
Detached Condo
10
97
$225,000


    Housing Market Indicators

    February 2003

    February 2004

    % Change

    Sales*

    5,965

    6,060

    (+2%)

    New Listings*

    10,631

    11,117

    (+2%)

    Active Listings*

    15,873

    17,640

    (+11%)

    * All figures for Single-Family Dwellings.


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03/04